Here is just another note for myself before I forget.
After you install Java 7 on Mac OS X and you try to run java (or javac) it will still pick up the java 1.6 from /System/Library/Java/JavaVirtualMachines/1.6.0.jdk.
In order to fix this go to
/System/Library/Frameworks/JavaVM.framework/Versions
and remove the CurrentJDK symlink.
Then create the new one to point to the JDK 1.7, in my case with the command:
sudo ln -s /Library/Java/JavaVirtualMachines/jdk1.7.0_79.jdk/Contents/ CurrentJDK
Now check the version:
$ java -version
java version "1.7.0_79"
.............
Enjoy!